Academic Commons Search Resultshttps://academiccommons.columbia.edu/catalog?action=index&controller=catalog&f%5Bauthor_facet%5D%5B%5D=Chiappori%2C+Pierre+A.&f%5Bauthor_facet%5D%5B%5D=Salanie%2C+Bernard&f%5Bgenre_facet%5D%5B%5D=Working+papers&format=rss&fq%5B%5D=has_model_ssim%3A%22info%3Afedora%2Fldpd%3AContentAggregator%22&q=&rows=500&sort=record_creation_date+desc
Academic Commons Search Resultsen-usDivorce and the Duality of Marital Payoffhttps://academiccommons.columbia.edu/catalog/ac:199616
Chiappori, Pierre A.; Radchenko, Natalia; Salanie, Bernardhttp://dx.doi.org/10.7916/D8X0674CFri, 03 Jun 2016 16:27:36 +0000Empirical studies on the determinants of divorce are scarce in economics. One reason is the duality of the value of marriage, which combines economic gains for which proxies can be found and non-pecuniary gains that are much harder to measure. The literature on marital stability has therefore focused on the impact of income differentials between partners, omitting shocks to the non-economic components of the value of the marriage. We fill in the gap by extending the model of marriage dissolution to account for a time-varying non-pecuniary quality of the match. To explore its importance, we exploit a unique data set from the Russia Longitudinal Monitoring Survey (RLMS) which provides both labor market outcomes of the couples and subjective well-being data. Our results suggest that the monetary and non-monetary components enter the joint surplus additively, with gender-specific marginal rates of substitution. The valuation of the monetary components also reveals gender asymmetry, which we link to differences in remarriage prospects.Economics, Marriage--Economic aspects, Divorce--Economic aspects, Equalitypc2167, bs2237EconomicsWorking papersThe Econometrics of Matching Modelshttps://academiccommons.columbia.edu/catalog/ac:186690
Chiappori, Pierre A.; Salanie, Bernardhttp://dx.doi.org/10.7916/D8T152SVFri, 19 Jun 2015 14:29:57 +0000In October 2012 the Nobel prize was attributed to Al Roth and Lloyd Shapley for their work on matching. Both the seminal Gale-Shapley (1962) paper and most of Roth’s work were concerned with allocation mechanisms when prices or other transfers cannot be used—what we will call non-transferable utility (NTU) in this survey. Gale and Shapley used college admissions, marriage, and roommate assignments as examples; and Roth’s fundamental work in market design has led to major improvements in the National Resident Matching Program (Roth and Peranson 1999) and to the creation of a mechanism for kidney exchange (Roth, S ̈onmez and U ̈nver 2004.) The resulting insights have been applied to a host of issues, including the allocation of students to schools, the marriage market with unbalanced gender distributions, the role of marital prospects in human capital investment decisions, the social impact of improved birth control technologies and many others. The econometrics of matching models have recently been reconsidered, from different and equally innovative perspectives. The goal of the present project will be to survey these methodological advances. We shall describe the main difficulties at stake, the various answers provided so far, and the issues that remain open.Economicspc2167, bs2237EconomicsWorking papersOn Human Capital and Team Stabilityhttps://academiccommons.columbia.edu/catalog/ac:154183
Chiappori, Pierre A.; Galichon, Alfred; Salanie, Bernardhttp://hdl.handle.net/10022/AC:P:15211Wed, 07 Nov 2012 12:07:46 +0000In many economic contexts, agents from a same population team up to better exploit their human capital. In such contexts (often called “roommate matching problems”), stable matchings may fail to exist even when utility is transferable. We show that when each individual has a close substitute, a stable matching can be implemented with minimal policy intervention. Our results shed light on the stability of partnerships on the labor market. Moreover, they imply that the tools crafted in empirical studies of the marriage problem can easily be adapted to many roommate problems.Economics, Matching theory, Human capitalpc2167, bs2237EconomicsWorking papersFrom Aggregate Betting Data to Individual Risk Preferenceshttps://academiccommons.columbia.edu/catalog/ac:154180
Chiappori, Pierre A.; Salanie, Bernard; Salanie, Francois; Gandhi, Amithttp://hdl.handle.net/10022/AC:P:15210Wed, 07 Nov 2012 12:00:31 +0000As a textbook model of contingent markets, horse races are an attractive environment to study the attitudes towards risk of bettors. We innovate on the literature by explicitly considering heterogeneous bettors and allowing for very general risk preferences, including non-expected utility. We build on a standard single-crossing condition on preferences to derive testable implications; and we show how parimutuel data allow us to uniquely identify the distribution of preferences among the population of bettors. We then estimate the model on data from US races. Within the expected utility class, the most usual specfications (CARA and CRRA) fit the data very badly. Our results show evidence for both heterogeneity and nonlinear probability weighting.Economicspc2167, bs2237EconomicsWorking papersPartner Choice and the Marital College Premiumhttps://academiccommons.columbia.edu/catalog/ac:133169
Chiappori, Pierre A.; Salanie, Bernard; Weiss, Yoramhttp://hdl.handle.net/10022/AC:P:10479Wed, 01 Jun 2011 15:38:41 +0000Several theoretical contributions have argued that the returns to schooling within marriage play a crucial role for human capital investments. Our paper quantifies the evolution of these returns over the last decades. We consider a frictionless matching framework Ã¡ la Becker-Shapley-Shubik, in which the gain generated by a match between two individuals is the sum of a systematic effect that only depends on the spouses' education classes and a match-specific term that we treat as random; following Choo and Siow (2006), we assume the latter component has an additively separable structure. We derive a complete, theoretical characterization of the model. We show that if the supermodularity of the surplus function is invariant over time and errors have extreme value distributions with time-invariant but education-dependent variances, the model is overidentified. We apply our method to US data on individuals born between 1943 and 1972. Our model fits the data very closely; moreover, we find that the deterministic part of the surplus is indeed supermodular and that, in line with theoretical predictions, the "marital college premium" has increased for women but not for men over the period.Economic theory, Educationpc2167, bs2237EconomicsWorking papers